3512/500 Elizabeth Street Melbourne VIC 3000

High-floor CBD views | opposite Queen Vic Market | turnkey Airbnb income | full building amenities This unit is competitively positioned within the high-density Elizabeth Street corridor, offering a rare high-floor aspect with sweeping urban views atypical for the price segment, which typically trades compact layouts. Its operational Airbnb status provides immediate income, serving investors or professionals seeking a turnkey inner-city base within walking proximity to major universities, transport, and the market. The building’s premium amenities, including a pool and concierge, substantiate its appeal in a market saturated with standard investor stock. The primary risk is exposure to a market segment with abundant sub-$600,000 two-bedroom stock, where this unit’s price premium must be defended solely by its high floor and views, as the single bathroom configuration caps family appeal. The opportunity lies in securing a furnished, income-producing property in a perpetual high-demand rental zone, with a clear path for either continued short-term leasing or sale to a user-investor. Proceed with an offer anchored to furnished yield, not vacant possession comparables, and commission a PropCred report to validate its real market valuation against the building’s mixed sales history and assess specific strata and short-stay regulatory risks. Recent comparable sales within the same building show significant price variance, underscoring the critical impact of floor level and configuration: – 5906/500 Elizabeth St: 2 bed, 2 bath sold at $569,000. – 5510/500 Elizabeth St: 3 bed, 2 bath sold at $330,000. – 1603/500 Elizabeth St: 3 bed, 2 bath sold at $950,000. This dispersion confirms that lower-floor or inferior-layout units trade at a steep discount, while premium positions command strong prices, making the subject’s 35th-floor views its key value lever.